If the person concerned (“A”) carries on, or is seeking to carry on, regulated activities which do not consist of or include a PRA-regulated activity, the threshold conditions that are relevant to the discharge by the FCA of its functions in relation to A are the conditions set out in paragraphs 2B to 2F.
Location of offices
(1) Unless sub-paragraph (3)[, (4)(a) or (7)] applies, if A is a body corporate incorporated in the United Kingdom—
(a) A's head office, and
(b) if A has a registered office, that office,
must be in the United Kingdom.
(2) If A is not a body corporate but A's head office is in the United Kingdom, A must carry on business in the United Kingdom.
(a) A is seeking to carry on, or is carrying on, a regulated activity which is any of the investment services and activities,
(b) A is a body corporate with no registered office, and
(c) A's head office is in the United Kingdom,
A must carry on business in the United Kingdom.
(4) If A is seeking to carry on, or is carrying on, an insurance [distribution] activity—
(a) where A is a body corporate incorporated in the United Kingdom, A's registered office, or if A has no registered office, A's head office, must be in the United Kingdom;
(b) where A is an individual, A is to be treated for the purposes of sub-paragraph (2) as having a head office in the United Kingdom if A is resident in the United Kingdom.
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